Egyptian businessman Hani Berzi’s gains $16 million from Edita stake
Egyptian businessman Hani Berzi has witnessed a significant boost in the market value of his stake in Edita Food Industries amidst a sustained upswing in the company’s shares on the Egyptian Stock Exchange.
Data gathered by Billionaires.Africa revealed that the market value of Berzi’s stake in Edita Food has increased by EGP509.58 million ($16.5 million) in just 20 days, reflecting the growing interest of investors in the Egyptian equities market.
Edita Food Industries is a market leader in Egypt’s growing packaged snack food market. The consumer goods group manufactures and sells various branded snack products through its extensive retail channel, including packaged cakes, croissants, rusks (baked wheat), and wafers.
Berzi, who founded the consumer goods conglomerate in 1996 and presently serves as chairman and managing director, owns a significant 41.95-percent stake in the leading packaged food manufacturer through Quantum Invest BV.
Since Aug. 17, Edita Food shares on the Egyptian bourse have increased from EGP19.56 ($0.633) to EGP21.24 ($0.687) at the time of writing, amounting to a total gain of 8.59 percent for shareholders, including Berzi.
The market value of Berzi’s 41.95-percent stake in Edita Food has risen by EGP509.58 million ($16.5 million) as a result of the single-digit price gains from EGP5.93 billion ($192.01 million) on Aug. 17 to EGP6.44 billion ($208.50 million) at the time of writing this report.
Berzi’s astonishing wealth surge further amplifies the EGP 1.72 billion ($55.7 million) he accrued between Jan. 1 and Aug. 17, as earlier disclosed by Billionaires.Africa.
With this surge in his fortune, Hani Berzi firmly solidifies his position as one of the most affluent investors on the Egyptian Exchange and ranks among the wealthiest individuals in the nation.
His success mirrors the continued growth and potential within Egypt’s dynamic packaged snack food market and reinforces his influential role in this thriving industry.